May
Key clients desert PwC China as big four rivals circle
The accounting firm is under a cloud over audits of the distressed property developer Evergrande, and it faces severe penalties.
- Cheng Leng and Chan Ho-him
KPMG to merge British and Swiss operations
Partners voted to merge the professional services firm’s UK and Swiss businesses, creating a unit with about $6.6 billion of revenue.
- Irina Anghel
PwC braces for China crisis and a hefty fine
PwC’s role in approving accounts for troubled property developer Evergrande has led to infighting at the big four firm as clients reconsider their relationship.
- Stephen Foley, Sun Yu and Cheng Leng
Auditors failed to raise alarm before 75pc of UK corporate collapses
Audit firms failed to raise the alarm before three-quarters of big UK corporate collapses since 2010, raising concerns they are failing to perform one of their core functions.
- Simon Foy
Adam Powick failed to make partner twice. Now he runs Deloitte
The chief executive says when people fail to get a promotion, they are often told they are doing a good job and should continue along the same path. He reckons that advice is “BS”.
- Ciara Seccombe and Lap Phan
PwC partners in Middle East accused of blocking first woman boss
PwC is facing a backlash from its own staff after two women were passed over for the UK firm’s top job, as Middle Eastern partners grow in strength.
- Updated
- Adam Mawardi
Big four exam cheating under spotlight amid AI fears
Academic integrity is in focus for professional regulators after a series of cheating scandals and the rise of artificial intelligence.
- Adam Mawardi
- Opinion
- Opinion
Why can’t top auditors find fraud?
US regulators have put forward a series of proposals to clarify and extend responsibilities to spot wrongdoing.
- Stephen Foley
Big four’s reformation moment
Engaging with the Treasury process is an opportunity for the consulting giants to help modernise the partnership-based model founded in the 19th century and unfit for today.
- The AFR View
Big four accountants could face partner limits in governance crackdown
The big four accounting firms could be forced to slash partner numbers and incorporate their consulting businesses under a crackdown on governance standards flagged as a possible response to the PwC tax leaks scandal.
- Updated
- Ronald Mizen and Edmund Tadros
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
- Simon Evans
April
- Exclusive
- PwC tax scandal
Burrowes wants everyone to move on from PwC’s tax scandal
“We feel we’re in a good position now to start to turn to a new chapter, look to the future and drive the firm with a new strategy,” the PwC chief executive says.
- Ronald Mizen and Maxim Shanahan
Big four consultants ‘commoditised’, says fast-growing boutique firm
Rennie Advisory has appointed former senior EY partner Tim Eddy as its new chairman, as small firms capitalise on client dissatisfaction with the big four.
- Maxim Shanahan
‘Risk of regulatory capture’: ASIC hits back at audit criticisms
The watchdog is facing calls to regulate financial reports, sustainability reporting and audit quality.
- Ronald Mizen
- Opinion
- Big four consultants
Consulting clients look elsewhere as trust in big four plummets
Smaller firms have an opportunity to build trust with clients and take work off the previously dominant big four, whose reputation is in tatters.
- George Beaton
KPMG slapped with record $38m fine for exam cheating
KPMG’s Netherlands affiliate was found to have made multiple misrepresentations to the US accounting watchdog about its knowledge of the misconduct.
- Updated
- Chris Prentice
Police investigated sexual assault allegation against PwC employee
A woman is suing PwC Australia under workplace laws. Both parties agreed on Friday to attend mediation.
- Max Mason
March
PwC’s ‘project Snow Gum’ eyes sale to big four rival
PwC sought buyers for the firm’s indigenous consultancy unit, once a source of great pride. Enter Deloitte.
- Updated
- Mark Di Stefano
- Exclusive
- Tax avoidance
Client alleges ex-EY partner took secret payments on tax scheme
A wealthy client is suing the EY Australia partnership alleging a partner earned $700,000 in secret commissions as part of a failed tax loss scheme.
- Max Mason
Deloitte launches biggest shake-up in a decade to cut costs
The revamp to cut its main business units from five to four comes after the big four firm decided against splitting up its audit and consulting businesses.
- Updated
- Simon Foy and Stephen Foley